by DontMicrowaveCats
Of course rather than dropping the unsustainable 20% APR draining their reserves, their scamlord decides to print $450 Million worth of UST stablecoins to keep it going.
So they don’t even have to sell the LUNA for UST….they just “burn” it and make more UST out of thin air based on the current LUNA market price.
The Twitter thread is pretty hilarious. People asking why they don’t just drop the yield to something sustainable…other people freaking out at them because that would cause less adoption of the Ponzi.
https://twitter.com/stablekwon/status/1491714834534068225?s=21
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